Grandbridge Finances $8.25 Million Raleigh, N.C., Office Property

Published On: 09.12.14

RALEIGH, N.C. — Grandbridge Real Estate Capital recently closed an $8,250,000 first mortgage loan secured Six Forks Square, a 149,372 square foot office property in Raleigh, N.C. The acquisition was originated by Raleigh-based Robert Hukill. Grandbridge Assistant Vice President Wesley Fricks assisted with the transaction.

Funding for the acquisition was provided by BB&T Real Estate Funding (BBTREF), Grandbridge’s exclusive balance sheet lending platform, and featured three years of interest only and a 25-year amortization. Heritage Capital Group acquired the four-building portfolio for $12,400,000. 

“Ideally located on 7.79 acres along the highly-coveted Six Forks Road corridor in North Raleigh, the four-building office park was 100 percent leased to the State of North Carolina at closing. The lease expires within the loan term. BBTREF provided a flexible solution to deal with this rollover, enabling the loan structure to address both the borrower’s short- and long-term needs,” said Hukill.

About Grandbridge Real Estate Capital
Grandbridge Real Estate Capital arranges permanent commercial and multifamily real estate loans; services loan portfolios; and provides asset and portfolio management, as well as real estate brokerage services. With a current servicing portfolio of more than $28.5 billion Grandbridge represents approximately 100 capital providers.

Based in Charlotte, N.C., Grandbridge, a subsidiary of Branch Banking and Trust Company (BB&T), has a broad investor base that includes insurance companies, CMBS investors, pension fund advisors, commercial banks and capital markets investors, as well as its proprietary lending platform, BB&T Real Estate Funding. The company is a Fannie Mae DUS® lender, a Freddie Mac Program Plus® Seller/Servicer, and an approved FHA MAP and LEAN healthcare lender.

More information about the company is available at grandbridge.com.